You’ll only make repayments if your income is over the relevant threshold.

I have a Plan 2 and Postgraduate Loan, how do my repayments work?

The amount you repay to each type plan depends on your income.

You’ll repay:

9% of the amount you earn over the Plan 2 repayment threshold (£25,000)

6% of the amount you earn over the Postgraduate Loan repayment threshold (£21,000)

The table below shows how repayment amounts are split and applied to each plan type when you’re repaying both a Plan 2 and Postgraduate Loan.

INCOME (before tax)

REPAYMENT

Annual

Monthly

Plan 2 loan

Postgraduate Loan

Total monthly repayment

£21,000

£1,750

£20

£0

£20

£23,000

£1,916

£0

£9

£9

£27,000

£2,083

£0

£19

£19

£27,000

£2,250

£15

£30

£45

£30,000

£2,500

£87

£45

£132

The Postgraduate Loan repayment plan only applies to students who took out a Postgraduate Loan from Student Finance England (SFE) or Student Finance Wales (SFW). If you took out a Postgraduate Loan from Student Awards Agency Scotland (SAAS) or Student Finance Northern Ireland (SFni) then these will be repaid under Plan 1.